Startups are rarely as bad as banking, where you can do 100 hour weeks several weeks in a row, have vacations canceled, miss weddings and funerals. Even though you're expected to work more at startups, most founders realize their employees need time off. I could be wrong, but I'd say a majority of startup employees work less than 60 hours per week.

Also the work at investment banks is boring and monotonous. Doing 100 page pitch decks, knowing very well that 90 of them are going to get thrown out.

Startups might be better than banking, but the very idea of praising "majority of startups" for working "less than 60 hours per week" best describes the whole brokenness of the startup model for startup employees. And no, there is no "necessity" in working insane hours, it's just the wish of startup founders and owners to succeed per all costs, especially it that cost is someone else time / money.

Banking != investment banking. I work in asset management I do a 45 hour week most of the time, with very few exceptions.

Sorry, I've come to use the terms interchangeably. That's what happens when your friends are all investment bankers.

Life of a programmer in investment banking can be much better in pretty much every respect compared to your typical internet startup (pay, working hours, availability of "toys" and exposure to new tech, etc.).

If you're thinking MBAs, then those 100 page pitch decks that lead nowhere can happen in any industry in equal measure.

Yea I don't think I've ever met a startup employee that regularly puts in 100 hours weeks the way bankers do. Last time I was at a startup, 50-60 was normal, though some crunch periods were closer to 70. My banker & consultant friends on the other hand seem to have terrible balance and much less interesting work.

Yes, but it's not a badge of honor; it's a matter of necessity, and the tech world nowadays is sufficiently aware of the performance detriment that comes with working long hours.